A Deeper Crisis

Neil Barofsky has probably been taken off of the Obama Kwanzaa card list for 2010 and beyond. Barofsky, who has been tasked with overseeing the TARP “bailout” funds, of late has been as invisible as Boozer Biden who was left in charge of the “stimulus” and Rodham who was left in charge of buckets and mops.. This unexcused absence came to an abrupt end as Barofsky has released a quarterly report that paints the Obama progressive pogroms in a curt black and white with only a few shades of gray..

Barofsky’s report which was highlighted in “TARP cop: Some Bailout Goals Still Unmet”, (fox news) said that “policymakers still have not addressed fundamental problems that triggered the financial crisis..” There are a few choice amorphous words in that last sentence which I will attempt to clarify..

“Policymakers”. This is one of those media attempts at “all-inclusiveness” that I find repulsive. The use of “policymakers” attempts to spread the blame for the Obama inspired crisis from beyond Obama and his liberal lackeys to the “acrimonious” Republicans. When the re-TARPs of the Obama caliphate were brewing up their progressive polemics, the Republicans were persona non grata in and around the “transparent/closed door meetings” that surrounded these shenanigans. The loyal opposition was openly locked out of the proceedings as Obama and his cast of communists (the “in-smell-igentsia”..) was still sniffing the vapors from both their villainous victory and from the fascist festival replete with Styrofoam columns and Bolshevik bunting.. These were the heady days of the “Supermajority”, no Republicans need apply..

“Addressed”. This word might have the implied meaning of “effectively addressed” but Obama has definitely “addressed” the problem that he has “inherited” which was created by years of Democratic majorities in both Houses. Obama’s nifty idea of applying beatnik Bolshevism to the problem certainly “addressed” it, but it did nothing to alleviate the collectivist crown of thorns. According to Barofsky, it has probably made the path clear for another “crisis” of an even greater magnitude..

Obama, representative of the “little guy”, according to Barofsky has made TARP beneficiaries, who Obama alleges to have created the crisis, “even larger, because of the substantial subsidies provided by TARP and other bailout programs..” Why would Obama “reward” those who have allegedly created this “crisis”? For one reason alone.

Obama refuses to admit that he and his passel of progressive poltroons had absolutely no idea what it was that they were doing, they just wanted to be seen “doing something”. The liberals love to chortle that Bush would never admit that he was wrong but Obama has ol’ W beaten in spades on that one.. (Easy now..) Obama, Geithner and company had no choice but to give taxpayer funds to the alleged creators of the problem.

He then tried to blame both “bonuses” and “salaries” as the reasons that his “bailouts” weren’t having the desired effect.. Even with children in the crowd crying out, “The Emperor has no clothes!”, Obama strolled on not wanting to appear inept or uninformed.. By not implementing “change”, Obama has a sufficient series of buffers in place to blame when things continue to stumble along. As always, the liberal ideal of throwing other people’s money at a problem has done nothing to alleviate the problem..

In “Watchdog: Bailouts Created More Risk in System”, (fox news) Barofsky pulls the gloves off, “absent meaningful reform, we are still driving on the same winding mountain road, but this time in a faster car..” Barofsky says that companies “still have an incentive to take on risk because they know that the government will save them..” This is just the illogical extension of the “entitlement mentality” which has been fostered and perfected for generations by the liberals upon the liberal base/proletarians, which these preceding generations have also conclusively proven to be an utter and abject failure.

The Obama Depression has proven that the concept of “liberal entitlements” has the same carcinogenic effect when applied to both the middle and the upper classes as well.. The liberals want the middle class taxpayers to take on all of the “risk” for all of the unnecessary risks incurred by those “too big to fail”.. The liberals stoked these fictional fires by furiously pumping the bellows of baloney.. Remember, Obama stands alone against the “interests” for the “little guy”.. Under Obama, those who have played by the rules regardless of income, must “bailout” those who haven’t regardless if the recipients of his benevolence are rich or poor..

“The government stepped in where the private players have gone away. The government has done more than simply support the mortgage market, in many ways it has become the mortgage market with the taxpayer shouldering the risk..” You have to admire his candor as Barofsky is pushing for a pair of concrete overshoes and a quick plunge into the Potomac.. Then again, Barofsky probably just doesn’t want his name added to the list of potential Obama excuses/targets for why nothing positive has been done..

Barofsky’s office is investigating, “77 cases of possible criminal and civil fraud, including crimes of tax evasion, insider trading, mortgage lending and payment collection, false statements and public corruption..” My question is, is Barofsky talking here about TARP recipients or is he talking about the members of the Obama administration because such standards could easily apply to both groups..

“The federal government has spent hundreds of billions propping up the housing market. About 90 percent of home loans are backed by government controlled entities, mainly Fannie Mae, Freddie Mac and the Federal Housing Authority..” Please consider how generations of liberal political failures and Demokratic induced crises have brought about the latest liberal political failure and Demokratic induced crisis.. Keep in mind that liberalism’s abject misadventures and implosions are contiguously connected and intertwined through their use of an overly intrusive and morbidly obese government..

Fannie Mae was a creation of the Roosevelt Depression and it, along with the meddling of Bill Clinton and Barney Frank, brought about the Obama Depression.. HUD pushed Freddie Mac to do more subprime lending in 2004.. “Subprime” loans took off based on the idiotic liberal idea of making loans based on “fairness” as opposed to “finances”.. HUD was a creation of the Johnson liberal “Great Society”.. The FHA (Federal Housing Administration) was another product of the Roosevelt Depression.. The ever burgeoning Bolshevik liberal “government” has its weenie in too many housing related camp fires..

Barofsky “renewed a call for Treasury to enact clearer walls” so that the private fund managers “Treasury picked” wouldn’t be participating in such chicanery. Sir, if I may, “windows” are clear, “walls” are always being created by the liberals. As an example, may I point to those “walls” such as those created by Jaime Gorelick and the liberals which made the September 11th attacks even easier to pull off..

Many moons back, Joe “Absolut” Biden said that Obama would be “tested” within the first six months in office. Who knew that this “test” would be a “deeper crisis” which would be the result of a combination of past liberals failed policies and programs and the failed programs and policies of the Obama madrassa implemented so early into his hysterical political experiment? We did..

Larry,
Another timely Spot on Post – I don’t see how or why the Freddy/Fanny bailout changes anything. All it’s doing is enabling those who can’t make their monthly mortgage payments to avoid foreclosure. Once the bailout funds dry up, the mortgage payments are not going to be made and back to square #1. What jobs are there for the defaulting on their loans? So unless I am missing something (help me out here if I am), history will repeat itself unless the POTUS and his merry minions continue the (or start another) bailout. On another topic, my wife & I were in the audience this Saturday at the “Bold Fresh” tour in Charleston. Really a treat & well worth the time & money spent. Recommend, anyone who has the opportunity to attend or see in Simul Cast. Go for it. Finally, Vince Flynn’s TERM LIMITS, page 72 & 73 relates directly to what is happening now (without the violence depicted in his writing) with the voters being fed up with Washington. Section starts with “In 1776 – the Founders …. Vince in 1999 wrote about a 5 trilllion debt that would be 10 trillion by 2000. A little early maybe, but prophetic.
Never again is not long enough. Kurt

Larry. Sorry I have not been able to comment recently but have been following all you articles with great interest. family problems have prevented me from computer time.

I was reading RedState this AM and I am sure you know of what is happening with CPAC. Bloggers will be allowed inside the convention this year and I would like to see you attend. If you need 411 please go to: cpacbloggers@gmail.com ,

Is this gov’t. becoming so corrupt, that we are rapidly reaching the point of ‘no return’, especially with the expansion of gov’t. and loss of freedoms? Add moral decay, socialism, and the expanding welfare class, and the picture tends to look rather gloomy.

This is truly beyond belief that obowwow and the clowngress is still printing money and have totally abandoned any attempt at truth in governing. We must clean house and make a start at cleaning the senate. It will take longer, but when they see we mean it, they may start to rethink their position. We need to get them away from the treasury as they seem like Uncle Scrooge – playing in a pile of money with no restraints. Idiaots, all!

Larry, thank you for your kind words and prayers. They are most welcome.

Good to know you are going to be there at CPAC even if you don’t register as a blogger. I hope that you will write about your take on the event for all of us in the family. May you have a safe and prosperous journey as my best wishes go with you.

Larry, good luck @ CPAC I hope all goes well. This article reminds me of a quote from Calvin Coolidge, “We cannot always do everything immediately, but we can do something immediately.”. I guess ‘something’ doesn’t need to mean the ‘right something’.